Like the older Velsheda Park, named after the yacht Velsheda, built in Gosport in 1933. It was owned by William Lawrence Stephenson, founder of the British arm of the Woolworth's retail chain. Stephenson allowed the yacht to be used by racing crews. In her second season she won more than 40 races under the command of Captain Fred Mountfield. The name Velsheda comes from the first syllables of the names of Stephenson's three daughters: Velma, Sheila and Daphne.
See Velsheda Park for further details.